Q1 26 EPS
$-0.50
BEAT +1.32%
Est. $-0.51
Q1 26 Revenue
$3.0M
MISS 1.53%
Est. $3.0M
vs S&P Since Q1 26
-35.2%
TRAILING MARKET
SERV -35.8% vs S&P -0.6%
Market Reaction
Did SERV Beat Earnings? Q1 2026 Results
Serve Robotics delivered a mixed but broadly constructive first quarter for fiscal 2026, narrowly beating earnings expectations while falling just short on revenue. The autonomous delivery and robotics company posted a loss of $0.50 per share, edging… Read more Serve Robotics delivered a mixed but broadly constructive first quarter for fiscal 2026, narrowly beating earnings expectations while falling just short on revenue. The autonomous delivery and robotics company posted a loss of $0.50 per share, edging past the $0.51 consensus estimate by 1.32%, while revenue of $2.98 million missed the $3.03 million consensus by 1.53% but still surged 577.5% year-over-year, fueled largely by its acquisition of Diligent Robotics and the resulting expansion into indoor hospital robotics. The combined platform now spans roughly 2,000 outdoor delivery robots and more than 100 hospital robots across 44 cities, and the company reaffirmed its full-year 2026 revenue guidance of approximately $26 million, signaling confidence that the growth trajectory will steepen through the rest of the year. Notably, software services revenue climbed to $1.03 million, with nearly half of total revenue now recurring in nature, a structural shift that analysts have been watching closely as the key to long-term operating leverage.
Key Takeaways
- • Fleet scale grew to approximately 2,000 deployed robots with daily active robots increasing to 812 from 73 year-over-year
- • Daily supply hours increased to 10,295 from 648 year-over-year
- • Software services revenue grew significantly, contributing approximately one-third of Q1 revenue
- • Just under half of total revenue is now recurring
- • Revenue grew across all offerings including fleet services, software, branding, and healthcare
- • Branding revenue showed triple-digit growth percentage QoQ in Q1
SERV Forward Guidance & Outlook
Serve reaffirmed its 2026 financial guidance of approximately $26 million in full-year revenue (up from $2.7 million in FY2025), 2026 Non-GAAP operating expenses of $160 million to $170 million, GAAP operating expenses of $197 million to $212 million (including $37 million to $42 million in stock-based compensation), and approximately $25 million in capital expenditures. The company's strategic focus is shifting from fleet expansion to increasing revenue per robot and per operating hour, driving operating leverage, and building a more durable recurring revenue base. The company plans to expand into additional U.S. cities and internationally in 2027+.
SERV YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
SERV Revenue by Segment
With YoY comparisons, source: SEC Filings
“Q1 marks a fundamental shift for Serve. We are leading the development of Physical AI in the real world, operating across multiple physical domains while building towards a unified autonomy platform. Three months into 2026, we are executing against the plan we laid out, with strong early proof points across revenue growth, operational scale, and platform expansion. The investments we made over the past year are beginning to compound, reinforcing our position as a multi-domain autonomy platform and expanding the long-term opportunity ahead.”
— Ali Kashani, Q1 2026 Earnings Press Release
SERV Earnings Trends
SERV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SERV EPS Trend
Earnings per share: estimate vs actual
SERV Revenue Trend
Quarterly revenue: estimate vs actual
SERV Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.51 | $-0.50 | +1.32% | $3.0M | -1.53% |
| Q4 25 BEAT FY | $-0.44 | $-0.34 | +22.14% | $882,000 | +15.22% |
| FY Full Year | $-1.29 | $-1.17 | +9.53% | $2.7M | +5.79% |
| Q3 25 MISS | $-0.26 | $-0.54 | -107.69% | $687,000 | -0.60% |
| Q2 25 MISS | $-0.17 | $-0.24 | -41.18% | $642,000 | +2.74% |
| Q1 25 MISS | $-0.15 | $-0.16 | -6.67% | $440,465 | -9.52% |